BillyCrosby

Shares were up 6.4% at $16.08 premarket as results topped expectations. The stock is up 34% over the past 12 months.

The company, which sells pet medications online and through its 1-800-PetMeds phone line, has recently tried to offset increased competition and more cautious consumer spending by shifting to higher-margin items and expanding its product lineup.

For the quarter ended June 30, PetMed reported a profit of $4.76 million, or 24 cents a share, up from $3.95 million, or 20 cents a share, a year earlier. Sales increased 7.6% to $74.2 million.

Analysts polled by Thomson Reuters had most recently forecast earnings of 23 cents on revenue of $70 million.

The company acquired roughly 207,000 new customers, compared with about 197,000 new customers a year earlier. Online sales climbed 11%. The average order size increased to $77 from $73 the year before.

Gross margin widened to 32.4% from 32.3%.

Advertising costs increased 5.5% to $10.4 million from $9.85 million the year before.

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